EquityPandit’s Outlook for HCL Tech for the week (September 28, 2015 – October 02, 2015):

HCL TECHNOLOGIES:

HCL Technologies (NSE: HCLTECH) closed the week on positive note gaining around 0.50%.

As we have mentioned last week that resistance for the stock lies in the range of 960 to 980. If the stock closes above this levels then the stock can move to the levels of 1000 where upward sloping trend-line is positioned. During the week the stock has attempted couple of times to move out of the resistance zone of 1060 to 1080 levels but could not succeeded. The stock manages to hit a high of 969 during the week.

Strong support for the stock lies in the zone of 920 to 930 where 100 and 200 Daily SMA are positioned. Below the levels of 920 on closing basis the stock can drift to the levels of sub 900.

Resistance for the stock lies in the range of 960 to 980. If the stock closes above this levels then the stock can move to the levels of 1000 where upward sloping trend-line is positioned.

Broad range for the stock in the coming week is seen between 930 to 940 on downside to 980 to 1000 on upside.